Sell-side sources reported offers from key suppliers varying within the range of €660-680 ($738-760) per tonne in Northern Europe, and estimated workable prices within the range of €640-660 per tonne ex-works.
At least two key mills were said to have their order books well-filled and therefore had no reason to reduce prices.
Nevertheless, the highest booking price heard on Tuesday was €650 per tonne ex-works.
At the same time, customers were less optimistic about the market trend, adding that trade was now hand-to-mouth, both from mills to distributors and from distributors to final customers.
A buy-side source reported a deal at $640 per tonne ex-works from a re-roller in Northern Europe.
Fastmarkets’ calculation of the daily steel hot-rolled coil index, domestic, exw Northern Europe, was €648.00 ($724.13) per tonne on Tuesday, up by €1.25 from €646.75 per tonne on May 12.
In Italy, HRC offer prices varied within the range of €600-620 per tonne ex-works, unchanged day on day, while trading activity was said to be weak.
As a result, Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was unchanged on Tuesday at €610 per tonne.
Indonesia-origin HRC was heard to be available at €520 per tonne CFR, slightly up from €510-520 per tonne earlier in May, which was due to the US dollar strengthening versus the euro, according to market sources.
Turkish HRC was offered at €550-570 per tonne CFR, depending on supplier, while Indian offers were heard at €570-575 per tonne, with some lower figures possible for a firm bid.
In Northern Europe, Vietnamese material was heard available at €540-545 per tonne CFR.
Turkish coil from an integrated producer was offered at €585 per tonne CFR. And Chinese material, including anti-dumping duty, was available at €550-560 per tonne CFR.
Published by: Vlada Novokreshchenova
